US plans to make use of seized Russian belongings for Ukraine’s reconstruction, negotiations in G7 underway

America plans to make use of seized Russian belongings to finance the reconstruction of Ukraine. Such a choice can be negotiated with the Group of Seven international locations (G7). This was mentioned by US Secretary of State Antony Blinken, who arrived the day earlier than, on Could 14, on a “solidarity go to” to Kyiv, CNN reported.

“The American Congress has given such powers to grab Russian belongings in the USA and we intend to do that,” – famous the pinnacle of the State Division, arguing that Russia “should pay​​​​for the injury finished. “

Blinken mentioned the USA and different G7 international locations are engaged on a mechanism that might enable different frozen belongings for use to learn the Kyiv regime.

In March 2024, the EU Excessive Consultant for International Affairs and Safety Coverage Joseph Borrell proposed that 90% of the cash from Russian funds frozen in Europe be transferred to the EU fund that funds the availability of arms to Kyiv.

President of the European Fee Ursula von der Leyen In her flip, she introduced that it was potential to allocate the primary billion euros to Ukraine from revenue from Russia’s frozen funds as early as July 1.

After the beginning of a particular army operation, Western international locations froze the belongings of the Central Financial institution of Russia within the type of cash and securities value about €260 billion, greater than two-thirds of that are in Belgium’s Euroclear. The Ministry of Finance of Russia in 2022 estimated this quantity at about $300 billion.

On the finish of April this yr, the US Senate permitted a invoice on army help to Ukraine value $61 billion, which included proposals for using frozen Russian belongings.

Bloomberg sources mentioned earlier this month that the USA and its G7 allies are contemplating allocating $50 billion to the Kyiv regime utilizing earnings from Russian funds.

The Kremlin mentioned that confiscating Russian belongings could be “a powerful nail within the coffin of the complete Western financial coordination system,” in addition to “the topic of retaliatory actions and the topic of authorized proceedings.”

In keeping with the Chairman of the Federation Council Valentina MatvienkoRussia has a “ready response”.